Bitcoin Forum
July 18, 2019, 12:08:35 PM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Trying to make sense of things here  (Read 2431 times)
solareclipse64236
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250



View Profile
November 03, 2012, 08:47:29 PM
 #1

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.


1563451715
Hero Member
*
Offline Offline

Posts: 1563451715

View Profile Personal Message (Offline)

Ignore
1563451715
Reply with quote  #2

1563451715
Report to moderator
PLAY NOW
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
kokjo
Legendary
*
Offline Offline

Activity: 1050
Merit: 1000

You are WRONG!


View Profile
November 03, 2012, 08:51:29 PM
 #2

why?

i got a loan, only on my postcount... whats your problem?

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
DeathAndTaxes
Donator
Legendary
*
Offline Offline

Activity: 1218
Merit: 1005


Gerald Davis


View Profile
November 03, 2012, 08:55:50 PM
Last edit: November 03, 2012, 09:35:39 PM by DeathAndTaxes
 #3

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

Most of the loans offered or accepted here are usarous.  You can't have a legally binding illegal contract. Wink  Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract.  Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with.  

The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually).  Almost all banks in the US are federally chartered and thus immune to state limits on Usury.  With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't.
Vod
Legendary
*
Offline Offline

Activity: 2814
Merit: 2270


Licking my boob since 1970


View Profile WWW
November 03, 2012, 09:02:13 PM
 #4

why?

i got a loan, only on my postcount... whats your problem?

Most of his posts sound something like this.   Cheesy

I'll do whatever I want retard

What kind of lame ass paraplegic moronic fucktard couldn't handle excessive thread posts or private messages? Probably a gay hooker named Laredo

I'm into creating universes, smiting people, writing holy books and listening to Prayer Messages (PMs).
BitcoinTalk Public Information Project (BPIP)  - BPIP Reports
"Masturbation makes you feel good but doesn't do anything for the person you're thinking of.  Just like prayer."
BurtW
Legendary
*
Offline Offline

Activity: 2506
Merit: 1048

All paid signature campaigns should be banned.


View Profile WWW
November 03, 2012, 09:37:59 PM
 #5

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.


Maybe I can try to help you make some sense of this:

1) I lend based on only one criteria really, whether I think the person will pay me back.  Now I have a lot of things that go into that decision for example post count, quality of posts, etc.

2) Having a person's info means next to nothing if they do not pay you back.  I live in Colorado.  I lent 15 BTC to some asshole named bcjunkie.  Here is his profile:  https://bitcointalk.org/index.php?action=profile;u=54204

I have his address (Kentucky), a copy of his drivers license, etc.  I even have his picture.  I will give it to you and you can have whatever you collect.  Deal?

You will find that is is almost impossible to collect a debt in another state and not worth doing if it is a small amount like 15 BTC.

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
solareclipse64236
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250



View Profile
November 03, 2012, 09:58:50 PM
 #6

if that's your only criteria then i agree you won't be able to take it to small claims court

also, if this is a place where people can't swear in, then it won't be around for long troll

solareclipse64236
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250



View Profile
November 03, 2012, 10:01:47 PM
 #7

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

Most of the loans offered or accepted here are usarous.  You can't have a legally binding illegal contract. Wink  Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract.  Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with.  

The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually).  Almost all banks in the US are federally chartered and thus immune to state limits on Usury.  With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't.

most of the rates stated here are cheap, not usarous

most credit cards charge 19 to 28.8 percent per annum

my last loan was 5 btc, paid back as 7 btc(or equivalent at the then current rate), so that's 40% on top

Vod
Legendary
*
Offline Offline

Activity: 2814
Merit: 2270


Licking my boob since 1970


View Profile WWW
November 03, 2012, 10:32:31 PM
 #8

if that's your only criteria then i agree you won't be able to take it to small claims court

also, if this is a place where people can't swear in, then it won't be around for long troll

Oh, people can swear, but I wouldn't lend anything to someone so immature.

I'm into creating universes, smiting people, writing holy books and listening to Prayer Messages (PMs).
BitcoinTalk Public Information Project (BPIP)  - BPIP Reports
"Masturbation makes you feel good but doesn't do anything for the person you're thinking of.  Just like prayer."
MPOE-PR
Hero Member
*****
Offline Offline

Activity: 756
Merit: 500



View Profile
November 04, 2012, 12:21:22 PM
 #9

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

To do what with? Burn in effigy?

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
Tittiez
Hero Member
*****
Offline Offline

Activity: 686
Merit: 500



View Profile
November 04, 2012, 05:44:58 PM
 #10

Why? I've gotten loans from multiple people (BurtW, abbeytim, eroxors) without any identifying information. I've paid them all back early or on time.

The only person who wouldn't loan to me without identity was senbonzakura, but to give him credit it was smart to ask first because if I recall I only just became a Full Member and I had little reputation.
DeathAndTaxes
Donator
Legendary
*
Offline Offline

Activity: 1218
Merit: 1005


Gerald Davis


View Profile
November 04, 2012, 06:38:55 PM
 #11

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

Most of the loans offered or accepted here are usarous.  You can't have a legally binding illegal contract. Wink  Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract.  Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with.  

The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually).  Almost all banks in the US are federally chartered and thus immune to state limits on Usury.  With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't.

most of the rates stated here are cheap, not usarous

most credit cards charge 19 to 28.8 percent per annum

my last loan was 5 btc, paid back as 7 btc(or equivalent at the then current rate), so that's 40% on top

Your own rate just contradicted your claim that most loans here are "cheap".  40% would be above the usary rate in every single state and I am assuming your loan was for 1 month? if so then it wasn't 40% APR (already usurious) but more like 5,669% APR.   Had you decided to not repay the loan there is no legal collection you could persue.  Collecting all the info and signing all those illegal contracts would be useless unless your lender was willing to engage in some mob style collection procedures. 

TL/DR.  Anything above the usary limit (on an annualized basis) for the state the borrower resides in can't have a legal contract.  An illegal contract isn't worth a whole lot.
solareclipse64236
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250



View Profile
November 04, 2012, 09:05:41 PM
 #12

if that's your only criteria then i agree you won't be able to take it to small claims court

also, if this is a place where people can't swear in, then it won't be around for long troll

Oh, people can swear, but I wouldn't lend anything to someone so immature.

then shut the fuck up and keep your money then troll

solareclipse64236
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250



View Profile
November 04, 2012, 09:07:35 PM
 #13

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

To do what with? Burn in effigy?

LAUGH MY FUCKING ASS OFF

If people can't be taken to court, or I can't harass people by having their credit ratings lowered then this is all moot

solareclipse64236
Sr. Member
****
Offline Offline

Activity: 392
Merit: 250



View Profile
November 04, 2012, 09:09:44 PM
 #14

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

Most of the loans offered or accepted here are usarous.  You can't have a legally binding illegal contract. Wink  Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract.  Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with.  

The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually).  Almost all banks in the US are federally chartered and thus immune to state limits on Usury.  With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't.

most of the rates stated here are cheap, not usarous

most credit cards charge 19 to 28.8 percent per annum

my last loan was 5 btc, paid back as 7 btc(or equivalent at the then current rate), so that's 40% on top

Your own rate just contradicted your claim that most loans here are "cheap".  40% would be above the usary rate in every single state and I am assuming your loan was for 1 month? if so then it wasn't 40% APR (already usurious) but more like 5,669% APR.   Had you decided to not repay the loan there is no legal collection you could persue.  Collecting all the info and signing all those illegal contracts would be useless unless your lender was willing to engage in some mob style collection procedures. 

TL/DR.  Anything above the usary limit (on an annualized basis) for the state the borrower resides in can't have a legal contract.  An illegal contract isn't worth a whole lot.


lol you should have first stated which country you're from

i'm certainly not american so i thought you meant usarous as excessive

btcANGEL
Full Member
***
Offline Offline

Activity: 140
Merit: 100



View Profile WWW
November 04, 2012, 10:15:02 PM
 #15

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

Most of the loans offered or accepted here are usarous.  You can't have a legally binding illegal contract. Wink  Likewise credit ratings, telephone #, and other banking info is useless when attempting to enforce an illegal contract.  Collateral is only collateral if you have legal right to collect it in a default which you won't if the contract is deemed illegal to begin with.  

The sad irony is that there is no federal Usary limit in the United States, only state limits (which vary from ~6% to 25% annually).  Almost all banks in the US are federally chartered and thus immune to state limits on Usury.  With no federally Usury limits a bank could offer a 3000% APR credit card but an individual lender (without a federal banking charter) can't.

most of the rates stated here are cheap, not usarous

most credit cards charge 19 to 28.8 percent per annum

my last loan was 5 btc, paid back as 7 btc(or equivalent at the then current rate), so that's 40% on top

Your own rate just contradicted your claim that most loans here are "cheap".  40% would be above the usary rate in every single state and I am assuming your loan was for 1 month? if so then it wasn't 40% APR (already usurious) but more like 5,669% APR.   Had you decided to not repay the loan there is no legal collection you could persue.  Collecting all the info and signing all those illegal contracts would be useless unless your lender was willing to engage in some mob style collection procedures. 

TL/DR.  Anything above the usary limit (on an annualized basis) for the state the borrower resides in can't have a legal contract.  An illegal contract isn't worth a whole lot.


lol you should have first stated which country you're from

i'm certainly not american so i thought you meant usarous as excessive

You certainly type like a graduate of the American public educational system.

Soon you will be dancing face-to-face / With the limits of ambition and the scars of the marketplace / Welcome to the land of flame and fizz / Where you will learn that packaging is all that heaven is
BCB
CTG
VIP
Legendary
*
Offline Offline

Activity: 1064
Merit: 1000


BCJ


View Profile
November 04, 2012, 10:24:09 PM
 #16

Please note that when you're lending money, it's never really about how long a person has been here for or how many posts that person has made.

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.


Maybe I can try to help you make some sense of this:

1) I lend based on only one criteria really, whether I think the person will pay me back.  Now I have a lot of things that go into that decision for example post count, quality of posts, etc.

2) Having a person's info means next to nothing if they do not pay you back.  I live in Colorado.  I lent 15 BTC to some asshole named bcjunkie.  Here is his profile:  https://bitcointalk.org/index.php?action=profile;u=54204

I have his address (Kentucky), a copy of his drivers license, etc.  I even have his picture.  I will give it to you and you can have whatever you collect.  Deal?

You will find that is is almost impossible to collect a debt in another state and not worth doing if it is a small amount like 15 BTC.
BertW
Not true. Send me the info.  Thanks
BurtW
Legendary
*
Offline Offline

Activity: 2506
Merit: 1048

All paid signature campaigns should be banned.


View Profile WWW
November 04, 2012, 11:06:41 PM
 #17

BurtW
Not true. Send me the info.  Thanks
I will dig up the info and send it to you and you can have at it.

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
BlackHeartFund
Full Member
***
Offline Offline

Activity: 126
Merit: 100



View Profile
November 05, 2012, 09:08:50 AM
 #18

Quote from: btcANGEL
You certainly type like a graduate of the American public educational system.


Thanks for making me laugh while reading a sad thread.
MPOE-PR
Hero Member
*****
Offline Offline

Activity: 756
Merit: 500



View Profile
November 07, 2012, 11:11:02 AM
 #19

It's about having that person's real name, at least two pieces of government issued photo ID, address, telephone number, bank information, credit rating, a promisory note, a legally binding contract, a co-signer or some collateral.

To do what with? Burn in effigy?

LAUGH MY FUCKING ASS OFF

If people can't be taken to court, or I can't harass people by having their credit ratings lowered then this is all moot

See here.

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!